Enterprise Products Partners L.P. reports news as a publicly traded master limited partnership providing North American midstream energy services for natural gas, natural gas liquids, crude oil, refined products and petrochemicals. Recurring updates cover operating and financial results, quarterly cash distributions to common unitholders, Schedule K-1 tax reporting, investor materials and capital returns.
Company announcements also discuss natural gas gathering, treating, processing, transportation and storage; NGL fractionation, storage and marine terminals; crude oil and refined products logistics; petrochemical services; and a marine transportation business on U.S. inland and intracoastal waterways. Growth-project news often centers on Permian natural gas processing and the partnership’s integrated pipeline, storage and terminal system.
Enterprise Products Partners L.P. (NYSE: EPD) announced a quarterly cash distribution of $0.49 per unit for Q4 2022, payable on February 14, 2023, to unitholders of record by January 31, 2023. This marks a 5.4% increase from the previous year's Q4 distribution. In 2022, the company repurchased $250 million of common units, utilizing 37% of its $2.0 billion buyback program. Earnings for the fourth quarter will be announced on February 1, 2023.
Enterprise Products Partners L.P. (NYSE: EPD) announced a public offering of $1.75 billion in senior notes, comprised of $750 million due January 10, 2026, and $1.0 billion due January 31, 2033. The company plans to use the net proceeds for general corporate purposes and debt repayment, including $1.25 billion in Senior Notes HH maturing in March 2023. The Senior Notes FFF will carry a 5.05% coupon, while Senior Notes GGG will have a 5.35% coupon. Settlement is expected on January 10, 2023.
Enterprise Products Partners L.P. (NYSE: EPD) has elected Rebecca G. Followill as a director of its general partner, effective January 1, 2023. Followill, a petroleum engineer with 38 years of energy industry experience and a former Senior Managing Director at U.S. Capital Advisors, will also join the Audit and Conflicts Committee. The company also announced Richard S. Snell's appointment as an advisory director, who previously served on the board since 2011. Enterprise Products is a major midstream energy service provider, offering extensive pipeline and storage capabilities across North America.
Enterprise Products Partners L.P. (NYSE: EPD) has secured the International Sustainability and Carbon Certification (ISCC) PLUS for its facilities in Chambers County, Texas. This certification enhances the company's capabilities to process and distribute sustainable products, marking a significant step in its commitment to sustainability. Co-CEO A. J. Teague emphasized that integrating ISCC PLUS certified materials will meet the rising demand for sustainable energy solutions, further solidifying Enterprise’s position in the evolving energy landscape.
Enterprise Products Partners L.P. (NYSE: EPD) will host one-on-one investor meetings at the Wells Fargo Midstream and Utilities Symposium on December 7 and December 8, 2022, in New York City. The latest investor presentation is available on the company's website. As a major provider of midstream energy services in North America, Enterprise operates over 50,000 miles of pipelines and has a significant storage capacity for various energy products. For more details, visit www.enterpriseproducts.com.
Enterprise Products Partners L.P. (NYSE: EPD) announced the receipt of a Record of Decision (ROD) from the U.S. Department of Transportation for its Sea Port Oil Terminal (SPOT) project, marking a key regulatory milestone. The SPOT project features a deepwater port in the Gulf of Mexico, designed to connect with a 4.8 million barrel onshore crude oil storage facility in Texas. The terminal aims to enhance energy infrastructure while significantly reducing emissions. Work to meet remaining licensing conditions will begin immediately, with a focus on construction guarantees and public outreach initiatives.
Enterprise Products Partners L.P. (NYSE: EPD) will host investor one-on-one meetings at the RBC Capital Markets Midstream and Energy Infrastructure Conference on November 16-17, 2022, in Dallas, Texas. The newly available investor deck will facilitate these meetings and can be accessed on the company's website. As a major provider of midstream energy services in North America, Enterprise operates over 50,000 miles of pipelines and has significant storage capacities for natural gas, NGLs, crude oil, and petrochemicals.
Enterprise Products Partners L.P. (NYSE: EPD) reported a strong financial performance for Q3 2022, with net income of $1.4 billion, or $0.62 per unit, up from $1.2 billion, or $0.52 per unit in Q3 2021. Distributable Cash Flow (DCF) rose 16% to $1.9 billion, providing 1.8x coverage of the distribution. The company declared a 5.6% increase in distributions to $0.475 per unit. Capital expenditures reached $474 million, with continued growth in pipeline transportation volumes. However, gross operating margin from the propylene business decreased by $149 million.
Intercontinental Exchange (NYSE: ICE) has launched real-time physical crude pricing in partnership with Link Data Services, enhancing transparency in the North American crude market. The live pricing covers 12 oil grades traded in key locations, including Cushing, Oklahoma, and the Gulf Coast. The initiative aims to offer global market participants reliable pricing data. The partnership follows the successful introduction of the HOU futures contract, which has seen significant trading volumes and liquidity growth since its inception in January 2022.
Enterprise Products Partners L.P. (NYSE: EPD) announced a quarterly cash distribution of $0.475 per unit for Q3 2022, totaling $1.90 annually, marking a 5.6% increase from Q3 2021. The distribution will be paid on Nov 14, 2022, to unitholders of record by Oct 31, 2022. This marks the 24th consecutive year of distribution growth. The company repurchased approximately $95 million in common units during Q3 2022, totaling $130 million for the year, utilizing 31% of its $2 billion buyback program.